Burnham could bring back 50p income tax rate – to pay for a cut for lower earners
- Posted on July 20, 2026
- By I Paper
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- 1 min read
In brief
The incoming Prime Minister is considering implementing a 50p top income tax rate as part of his fiscal strategy to finance tax relief for lower-income households. Government sources suggest the inaugural Budget could be presented in October, marking a significant policy shift in the UK's tax structure. This approach aims to balance wealth redistribution with economic competitiveness while addressing public sector funding challenges.
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Burnham could bring back 50p income tax rate – to pay for a cut for lower earners
The new PM could deliver his first Budget as soon as October, The i Paper has been told
